According to analysts from Danske Bank, after today’s decision and reports, a rate hike from the Bank of England remains “alive” but the timing is data dependent. Key Quotes: “The Bank of England decided not to hike the Bank Rate at this meeting (vote count unchanged 7-2, a bit dovish as some had thought it [...]
The post Bank of England: There will be fewer rate hikes than previously thought – Danske Bank appeared first on Forex Crunch.
Yellow metal supported by US dollar correction. Gold heads for highest daily close since late April. Gold is consolidating gains but so far it was unable to make a sustainable run above $1,320/oz. The yellow metal extended gains earlier today following US CPI data. The weaker than expected inflation reading pushed the US dollar to [...]
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We start by examining the Fed decision, slide into the US economy and its recent hiccups and this brings us to the bigger issues across the Atlantic. You are welcome to listen, subscribe, provide feedback and pledge support on Patreon. Fed: Powell and co. made subtle changes to the statement. Does the word symmetric mean that much? [...]
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NZD/USD: bird catches a CPI miss bid and extends the minor recovery from the new trend lows. NZD/USD: bearish below the 200-month SMA at 0.6980. NZD/USD bulls struggle to gain traction within this minor correction from a touch above 0.69 the figure despite a downturn in the dollar after today’s CPI disappointments and what might [...]
The post NZD/USD: bulls looking for a break of 200-W SMA, bearish below it appeared first on Forex Crunch.
CPI came in a little softer than expected in April (up 0.2 percent) amid a more tempered gain in the core index, explained analysts at Wells Fargo. They see the softer core print likely reflecting some exaggerated strength in Q1. Key Quotes: “Energy prices reversed course in April, rising 1.4 percent after a pullback in [...]
The post US: CPI rebounds, core eases but trend remains higher – Wells Fargo appeared first on Forex Crunch.
In respect of the yen, analysts at Scotiabank explained that sentiment is dominating and softening geopolitical concerns are supporting risk appetite. Key Quotes: “JPY’s risk profile leaves it vulnerable to near-term weakness, given its role as a safe haven currency.” “Risk reversals are showing a moderation in the premium for protection against near-term JPY strength [...]
The post Yen: softening geopolitical concerns are supporting risk appetite – Scotiabank appeared first on Forex Crunch.
Analysts at Scotiabank explained recent data events, BoE and call for a lower pound. Key Quotes: The UK reported a wider trade deficit for Mar (-GBP12.3bn versus -11.3bn expected) while industrial production rose 0.1% (against calls for a 0.2% rise (manufacturing output fell 0.1% and construction was as weak as expected at -2.3%). “The BoE [...]
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USD/JPY: bears take control on the CPI miss and test the key support area on 109 handle. USD/JPY: the key territories on the 10 handle remain compelling on Fed prospects in 2018. USD/JPY has plummeted back to test the key break out area of 109.30/40, a prior Tenkan line that held the bulls off on a [...]
The post USD/JPY: a cheap buy in at key 109.30 support, CPI not all that bad appeared first on Forex Crunch.
The EUR/USD is trading higher and getting away from the 2018 lows. The US Dollar is taking a breather and the Euro has no new disappointing figures. The technical picture still shows oversold conditions but other factors are improving. The EUR/USD is trading around $1.1880, up on the day and further away from the new [...]
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The BOE left interest rates unchanged and provided some dovish comments. Governor Carney sounded a bit more optimistic and stabilized Sterling but the cautious approach weighs. The Bank of England’s Super Thursday lived up to the promise. The GBP/USD rose to $1.3617 ahead of the publication on high expectations and some US Dollar weakness. And [...]
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The Bank of England is expected to leave its interest rate unchanged at 0.50% after a long list of bad economic data convinced Carney and co. to wait. But what will they do next? The Bank of England releases its decision, the accompanying meeting minutes and perhaps most importantly, the Quarterly Inflation Report, making it [...]
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The GBP/USD is waiting anxiously for the all-important Super Thursday decision by the Bank of England. Will they send Sterling higher or lower? The Technical Confluences Indicator shows that dense clusters of support and resistance await the pair. On the topside, $1.3681 is the convergence of the Fibonacci 161.8% one-day, the Fibonacci 61.8% one-week and the Simple Moving [...]
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The EUR/USD reached new 2018 lows at $1.1822 but is bouncing back amid an improved mood. US bond yields are rising, and markets are bracing for an Iran deal without the US. The technical picture shows that the pair is in deeply oversold conditions. The EUR/USD is trading around $1.1860, flat on the day and after having [...]
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The EUR/USD continues its journey south with the vomiting camel pattern. It is already over 700 pips from the highs but may have found some support. The Technical Confluences Indicator shows that $1.1825 is a congestion of several potent technical levels: the Pivot Point one-month S2, the one-hour low, the Bolinger Band 15m-Lower (Stdv. 2.2) and the Simple [...]
The post EUR/USD found its cushion, but is may not last too long appeared first on Forex Crunch.
The EUR/USD has hit fresh 2018 lows below $1.1900 as the US Dollar continues marching forward. The potential pullout of Trump from the Iran deal is casting clouds on markets. The pair is at oversold territory, but the “vomiting camel” pattern seems to be taking over. The EUR/USD is trading below $1.1900, the lowest since the last [...]
The post Camel Vomiting pattern in EUR/USD could result in more falls appeared first on Forex Crunch.
The EUR/USD starts the new week with new falls amid weak euro-zone figures. After a not-so-great US Non-Farm Payrolls report, the Dollar bulls may be losing steam. The technical picture remains bearish with a touch of oversold conditions. The EUR/USD started the first full week of May by resuming its falls, trading around $1.1930. While [...]
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The US Dollar enjoyed another week of significant gains, at times defying news that could have turned it around. Can it continue rising or will it correct to the downside? The inflation report stands in a week that also features two rate decisions. Here are the highlights for the upcoming week. The US Non-Farm Payrolls [...]
The post Forex Weekly Outlook May 7-11 – Did the dollar reach its peak? appeared first on Forex Crunch.
EUR/USD fell to the lowest levels since December as the greenback pushed forward and Europe’s economic slowdown seems serious. What’s next? The team at Bank of America looks at the charts. Here is their view, courtesy of eFXdata: Bank of America Merrill Lynch Research discusses EUR/USD technical outlook and maintains the view that the pair has confirmed a [...]
The post EUR/USD: Triangle Top Still In Place But Watch For A Scope Of A 6-Days Consolidation – BofAML appeared first on Forex Crunch.
